Land and Buildings Transaction Tax (LBTT) Paid (Scotland Only)

We could pay your Land and Buildings Transaction Tax (LBTT) for you.

What is LBTT and why do we have to pay it?

Land and Buildings Transaction Tax (LBTT) is the tax charged by the Government in Scotland when you buy a home of more than £145,000, or £175,000 if you are a first-time buyer.

When you buy a property the change in land ownership has to be legally registered at the Land Registry. This process requires a certificate from Revenue Scotland – which they will only issue on receipt of the LBTT payment due on the purchase of the property. The transfer of funds to pay the LBTT will be managed for you by your solicitor.

How much is LBTT?

For First-Time Buyers:

Purchase price

     LBTT rate

Up to £175,000

     0%

£175,001 to £250,000

     2%

£250,001 to £325,00 

     5%

£325,001 to £750,000

     10%

Over £750,001

     12%

 

For Existing Homeowners:

Purchase price

     LBTT rate

Up to £145,000

     0%

Above £145,001 to £250,000

     2%

Above £250,001 to £325,00 

     5%

Above £325,001 to £750,000

     10%

Over £750,001

     12%

How could we pay it for you?

Legally, the purchaser has to pay the LBTT on their purchase. However, we may be able to contribute towards it for you, up to a maximum of 4% of the purchase price of your new David Wilson home – just ask the Sales Adviser at the development.

Should you proceed with this offer, your solicitor will deduct the agreed contribution from the purchase price that is paid to us and allocate it to the LBTT payment on completion of the purchase of your new home.

For more details just ask one of our Sales Advisers at any of our developments.

Click to read the full Terms and Conditions.